On 1 January 2026 the Group undertook an internal restructuring to hive down the UK operations from the parent company Zotefoams plc to a subsidiary company, Zotefoams U.K. Limited. The external debt, intercompany loans, Shincell licence and corporate head office remained in Zotefoams plc along with the central corporate costs, while all other business and assets were transferred to Zotefoams U.K. Limited, creating an intercompany loan receivable from Zotefoams U.K. Limited in the process. This transaction has no effect on the Group accounts or the operation of the business. As the Group embarks on its next stage of growth, this organisational structure of a holding company and operational company subsidiaries has been determined to be the most appropriate to manage the business going forward.
On 23 January 2026 a refinancing of borrowings took place. The entire balance was repaid and a new loan taken out for the same amount with a consortium, evenly split between three banks, HSBC, NatWest and Handelsbanken. The new loan has a larger facility of £90.0m plus a £30.0m accordion. The facility is valid for three years and can be extended to four years in 2026 and five years in 2027.